Hyundai Motor India Ltd has announced that it will be increasing the prices across all its models in the month of Jan 2015. Company says that the decision comes due to higher input cost, high cost of imports due to higher rupee depreciation and high cost of sales.
Commenting on the price hike, Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these adverse market conditions, the price increase is necessitated on account of increase in input costs, high cost of imports due to higher rupee depreciation and high cost of sales. We have been absorbing most of the costs but are now constrained to consider price increase across all models in the range of Rs 5,000 to Rs 25,000 which will be effective from Jan 2015.”
Hyundai Motor India Limited, a wholly owned subsidiary of Hyundai Motor Company, currently offers ten car models across segments – Eon, Santro, i10, Grand i10, i20, Xcent, Verna, Elantra, Sonata and Santa Fe.
Stay tuned to Motoroids for more updates from the world of automobiles.